BP Exclusive

Central Bank has only rejected handful of execs under controversial ‘fitness and probity’ regime

Regime is currently under review after a tribunal found serious flaws in the process earlier this year

The standards, which gives the regulator the ability to accept or reject individuals for key decision making and customer facing positions, became applicable on 1 December 2011. Picture: Fergal Phillips

The Central Bank of Ireland (CBI) has only refused 4 applications under the fitness and probity (F&P) regime, which was established 13 years ago and became the subject of scrutiny in February.

The standards, which gives the regulator the ability to accept or reject individuals for key decision making and customer facing positions, became applicable on December 1 2011.

Since then just four individuals have had their applications refused, a freedom of information request shows. ...